Chicago, May 11, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the eye testing equipment market will reach a CAGR of 7.2% during 2022-2027. The increasing instances of cataract surgeries and the growing need for post-surgery follow-up are driving the growth of the eye testing equipment market. Globally, more than 500 million cataract procedures were performed from 1995 to 2021. Around 130 million living people have benefitted from the cataract surgery procedure.
Eye Testing Equipment Market Report Scope
| Report Attributes | Details | |
| MARKET SIZE (2027) | $4 Billion | |
| MARKET SIZE (2021) | $2.7 Billion | |
| CAGR (2022-2027) | 7% | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 | |
| MARKET SEGMENTS | Test Equipment, Application, End-user, and Geography | |
| GEOGRAPHIC ANALYSIS | North America, Europe, APAC, Latin America, Middle East, and Africa | |
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Eye testing equipment is in demand due to the increasing availability of eye care services and raising awareness. The increasing demand for eye examination and treatment in developed countries is propelling market growth. The rising demand for eye examinations due to severe conditions associated with the eyes is boosting the demand for eye testing equipment.
Increasing Government Programs and Eye Care Delivery Initiatives
The prevalence rate of eye diseases is increasing continuously due to prolonged digital screen use and the increasing adoption of smartphones. Farsightedness, cataract, and glaucoma are the three major eye diseases that demand a doctor's examination. Several governments in recent years have taken initiatives to reduce the burden of these diseases, thereby fueling the demand for eye equipment.
Key Highlights
- With more than 30% of the share Autorefractor and phoropter testing equipment are dominating the eye testing equipment market.
- Glaucoma is one of the fast-growing applications with a 9.19% CAGR, which is largely driving the demand for advanced eye testing equipment in the market.
- Hospital and eye clinics end-user will continue to dominate the eye testing equipment market. In 2021, the segment accounted for more than 55% of the market share.
- North America is the leading and potential market for eye testing equipment due to the presence of well-established eye care services, and awareness among the aging population, However APAC region has the fastest CAGR which shows lucrative opportunities for eye testing equipment due to the rising prevalence of eye disorders such as diabetic retinopathy, glaucoma, and cataract.
Key Offerings:
- Market Size & Forecast by Revenue | 2021−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis of test equipment, application, end-user, and geography
- Competitive Landscape – 6 key vendors and 39 other prominent vendors
Competitive Landscape
Emerging players are driving the market growth at steady rates. Eye disorders and addressed targeted populations by key vendors are fueling the market growth with high competition. Carl Zeiss is a leading market player with high market share. The company has major presence in the APAC region, with 44.1% revenue from the region. Topcon, Nidek Co. Ltd, Haag Streeit, and Medelsis Medical Electronics System are the leading companies trying to bag the top position in the market by offering the best and most advanced automated products. Most leading players focus on implementing various strategies such as product launches and approvals, marketing and promotional activities, acquisitions, increased R&D investments, and strengthened distribution networks to enhance their share and presence in the market.
Market Segmentation
Test Equipment
- Autorefractor & Phoropter
- Optical Coherence Tomography
- Fundus Camera
- Perimetry
- Tonometer
- Biometer
- Slit lamp
- Others
Application
- Cataract
- General Examination
- Glaucoma
- Age-Related Macular Degeneration
- Others
End-Users
- Hospitals & Eye Clinics
- Ambulatory Surgical Centers (ASC)
- xOptometry Academic Institutes
Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- APAC
- China
- India
- Japan
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- Turkey
Key Vendors
- Carl Zeiss Meditec
- Takagi Seiko
- Metall Zug
- Topcon
- Nidek
- Canon Medical System Corporation
Other Prominent Vendors
- Apollo Medical Optics
- Albert Waeschle
- AMETEK Group
- Heidelberg Engineering
- Shanghai Bolan Optical Electric
- Bon Optic
- iCare
- Coburn Technologies
- COSTRUZIONE STRUMETI OFTALMICI-(CSO)
- Dino Lite Europe
- Ellex
- Escalon Medical
- Essilor International
- Huvitz
- Heine USA Ltd
- Iridex Corporation
- Invotech Excel Fzsco
- Keeler (Halma PLC)
- Kowa Company
- Medline Industries
- Luneau Technology Group
- Neitz Instruments Co Ltd.
- Suzhou Kangjie Medical Inc
- Spengler Holtex Group
- OCULUS
- Oscar Boscarol S.r.l.
- Nikon (Healthcare)
- Gem Optical Instruments Industries
- Rexxam
- Rudolf Riester GmbH
- 66 Vision Tech
- Veatch
- Zumax Medical
- Yeasn
- Frey
- US Ophthalmic
- Welch Allyn
- Zhejiang Honsun Medical Technologies Co. Ltd
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